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Fiscal Cliff Deal Passed By Congress After Republicans Cave
 

Huffington Post - 01/01/2013

WASHINGTON -- A day late and trillions of dollars short, Congress passed a hard-won deal to ease large portions of the "fiscal cliff."

The nation started sliding down that cliff on New Year's Day, after lawmakers dithered for more than a year over solving the combination of across-the-board spending cuts and tax hikes that began taking effect with the start of the year.

The Senate passed a compromise at 2 a.m. Tuesday. The House threatened to blow up the deal, but reluctantly followed suit 20 hours later, ultimately passing a permanent extension of many Bush-era tax cuts by an overwhelming vote of 257 to 167.

   
 

 

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